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an nbc/"wall street journal" poll released yesterday shows a majority. 65% say president obama has a mandate on both increasing taxes on the wealthy and reducing federal spending; a similar two-thirds are willing to accept tax increases or cuts in federal government programs to reach a deal. but while public support on taxes is overwhelming, opinion on proposed cuts is less so. a new pew research center poll out today shows: three-quarters said deficit reduction should come from cutting major programs and increasing taxes. majorities disapprove of specific cuts to education, infrastructure, defense and anti-poverty programs. and just more than half oppose raising the eligibility age for social security and medicare. while both sides have proposed cuts and changes to medicare, only limited specifics have been released. >> woodruff: now, for more on what the public thinks about how the leaders are handling the negotiations and the debate over cuts to medicare, we turn to ray suarez. he begins with the pew research center poll. he talked about it a short time ago with the pew research c
an nbc/"wall street journal" poll released yesterday shows a majority. 65% say president obama has a mandate on both increasing taxes on the wealthy and reducing federal spending; a similar two-thirds are willing to accept tax increases or cuts in federal government programs to reach a deal. but while public support on taxes is overwhelming, opinion on proposed cuts is less so. a new pew research center poll out today shows: three-quarters said deficit reduction should come from...
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Dec 13, 2012
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speaker boehner says president obama wants tax increases but is resistant to spending cuts. the president is optimistic about a deal but acknowledges it's a work in progress. in public opinion, a poll from the pew research center 55% say the president is making a serious effort to reach a agreement. 32% of republican leaders. mike, we're hearing frustration from republicans but the breaking news, 5:00 p.m. east coast time these two getting together again. >> this is critical a 5:00 meeting at the white house between the president and speaker, the two key figures in trying to hammer out a deal. the republicans were trying to make the point spending is the nature of the government's problem, not tax revenue. they prepared a chart showing spending is expected to increase from now to 2041 while tax revenue is expected to hold consistent. so at one point today the speaker of the house sounded like he was kind of tired of answering hypothetical questions. >> ifs and and and butts are like candy and nuts. if that's the case, every day would be christmas. my goal is to get to an agr
speaker boehner says president obama wants tax increases but is resistant to spending cuts. the president is optimistic about a deal but acknowledges it's a work in progress. in public opinion, a poll from the pew research center 55% say the president is making a serious effort to reach a agreement. 32% of republican leaders. mike, we're hearing frustration from republicans but the breaking news, 5:00 p.m. east coast time these two getting together again. >> this is critical a 5:00...
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Dec 13, 2012
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he will talk about spending cuts. nice to have you on. >> great to be with you. >> one of your colleagues, they said this is outgoing with the republican of south carolina. he sounds as though he is throwing in the towel. he said president obama will get his wish. higher tax rates for the wealthy. congressman brown, will the president get his wish? >> i think the president wants higher tax rates for everybody. even the lowest paid employees in this country is pushing towards. the problem is not the higher rates and taxes which i totally oppose, we have to talk about spending. spending is the problem and what's going to us off the cliff. it is leading towards a collapse of america that is going to hurt the poorest americans and seniors on a limited income. those working on the middle class americans. >> speaker boehner said many, many times before, the problem facing washington is not taxes being too low, but spending being too high. we know your side wants spending cuts and cutting, but medicare. we saw this poll toda
he will talk about spending cuts. nice to have you on. >> great to be with you. >> one of your colleagues, they said this is outgoing with the republican of south carolina. he sounds as though he is throwing in the towel. he said president obama will get his wish. higher tax rates for the wealthy. congressman brown, will the president get his wish? >> i think the president wants higher tax rates for everybody. even the lowest paid employees in this country is pushing towards....
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Dec 13, 2012
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should secretary clinton fail to cut off aid to tunisia, i will take legislative action to cut off the aid to tunisia. >> reporter: just to remind folks, this investigation into the benghazi terrorist attack is being treated under the law enforcement model by the obama administration which means the fbi is the lead investigating body. and earlier this week fox news asked the attorney general to respond to criticism that it really seems stalled to the public, and he said that there is more going on in the investigation than meets the eye. >> you talk about one part of the investigation, um, of an investigation that is ongoing. and our efforts with regard to that specific part that you mentioned are, indeed, ongoing, and we'll see how that develop cans. but there are a whole range of other things that we're doing with regard to the benghazi incident that we, frankly, don't talk about. >> reporter: what is not a dispute is that no suspects have been formally charged in that terrorist attack and the murder of four americans more than three months ago, jon. jon: yeah. that's still the big q
should secretary clinton fail to cut off aid to tunisia, i will take legislative action to cut off the aid to tunisia. >> reporter: just to remind folks, this investigation into the benghazi terrorist attack is being treated under the law enforcement model by the obama administration which means the fbi is the lead investigating body. and earlier this week fox news asked the attorney general to respond to criticism that it really seems stalled to the public, and he said that there is more...
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Dec 13, 2012
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the president obama's proposals have been anything but balanced. he wants far more in tax hikes than spending cuts and instead of beginning to solve our did you tell probledebt problem, he new stimulus spending and the ability to raise the debt limit whenever he wants without any cuts or reforms. it's clear that the president's just not serious about cutting spending. but spending is the problem. how big a problem? look at this chart put together by paul ryan and budget committee. this line is the current baseline for revenue. here if the president got everything he wanted, over $1.4 trillion in taxes, this is what that would represent. but if you look at the spending problem, you see it does nothing. nothing to solve the spending problem that our country has. republicans want to solve this problem by getting the spending line down. the president wants to pretend spending isn't the problem. that's why we don't have an agreement. the chart depicts what i've been saying for a long time now. washington has a spending problem that can't be fixed with t
the president obama's proposals have been anything but balanced. he wants far more in tax hikes than spending cuts and instead of beginning to solve our did you tell probledebt problem, he new stimulus spending and the ability to raise the debt limit whenever he wants without any cuts or reforms. it's clear that the president's just not serious about cutting spending. but spending is the problem. how big a problem? look at this chart put together by paul ryan and budget committee. this line is...
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Dec 13, 2012
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every federal program is cut. and there's no signs of any progress from president obama and house speaker john boehner, which is raising the tension on capitol hill. abc's jonathan karl is there. and both sides are giving up hope of solving this by christmas. >> reporter: that's right. in fact, speaker boehner and republican leaders have warned rank and file republicans that they should be prepared to be here in washington, through christmas, and until the new year. the two sides don't even agree on what's holding everything up. the white house says that everything could be resolved quickly if republicans just agreed to raise tax rates on the wealthy. republicans say what's really the problem here is the white house won't get serious about spending cuts. >> everyone waiting on those two men. meanwhile, one of the side casualties may be that funding for the victims of hurricane sandy. >> reporter: that's right. i do not think that hurricane sandy funding, the $60 billion request from the white house, will get done
every federal program is cut. and there's no signs of any progress from president obama and house speaker john boehner, which is raising the tension on capitol hill. abc's jonathan karl is there. and both sides are giving up hope of solving this by christmas. >> reporter: that's right. in fact, speaker boehner and republican leaders have warned rank and file republicans that they should be prepared to be here in washington, through christmas, and until the new year. the two sides don't...
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look at that number. 89% say president obama should agree to that deal. house speaker john boehner says the president is not even meeting republicans halfway. here he is. >> this plan does not fulfill his promise to bring a balanced approach to solving this problem. it is mainly tax hikes. and his plan does not begin to solve our debt crisis. it actually encreases spending. the president is calling for 1.4 trillion dollars worth of revenue. that can not pass the house or the senate. bill: south dakota senator john thune chairman of the republican senate conference. good morning to you. >> good morning, bill, where are we now? anywhere? >> that is the question of the day. what seems to me to be happening here is that the white house is not real serious about any kind of a plan that has spending reductions in it, particularly that address what really drives federal spending. that is entitlement programs. they seem less and less serious getting a plan that would avert the fiscal cliff. why i think you heard a number of them say publicly they're willing to go
look at that number. 89% say president obama should agree to that deal. house speaker john boehner says the president is not even meeting republicans halfway. here he is. >> this plan does not fulfill his promise to bring a balanced approach to solving this problem. it is mainly tax hikes. and his plan does not begin to solve our debt crisis. it actually encreases spending. the president is calling for 1.4 trillion dollars worth of revenue. that can not pass the house or the senate. bill:...
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they don't want to include spending cuts and president obama doesn't think he needs to. if we go over the cliff other polls suggest republicans will get the blame. they have most of the leverage, therefore we don't get to a compromise or a deal. one calf national, republicans recognized this lack of leverage. they looked into 2013 and see a couple months in we have a debt ceiling deal. if we don't do a compromise now we're going to hold you during that debt ceiling debate and get spending cuts out of you then and president obama does not want to relive that 2011 catastrophe, chaos. >> roland, before you go, i didn't hear anything, it was all, it sounded like charlie brown to me after i heard you say roland's right. i don't know if i've ever heard you utter those words, will cain. >> actually he often says that. this is not a shocker. it's not breaking news and exclusive. it happens a lot. >> it's a just in, but go ahead, what were you saying? >> here's the deal, first of all for the audience, we talk about the fiscal cliff, it involves three things. first of all it deals
they don't want to include spending cuts and president obama doesn't think he needs to. if we go over the cliff other polls suggest republicans will get the blame. they have most of the leverage, therefore we don't get to a compromise or a deal. one calf national, republicans recognized this lack of leverage. they looked into 2013 and see a couple months in we have a debt ceiling deal. if we don't do a compromise now we're going to hold you during that debt ceiling debate and get spending cuts...
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president obama lowered the amount from 1.6 to $1.4 trillion. that's not good enough for the republicans holding out for cuts to programs like social security. congressional leaders warn lawmakers not to make holiday travel plans. they will work to the last minute. >>> it's been a busy morning for all things business. >> certainly. he has plenty of new numbers from washington and some new maps from apple and this would be jason brooks with kcbs and cbsmoneywatch.com. good morning. >> good morning. >> reporter: and we have some decent news on the economy but that's largely being overshadowed by the "fiscal cliff" talks. a lot of worries on wall street if an agreement can't be reached by the end of the year. but as far as of the economy goes, decent news especially on the job market. the labor department reporting that first time unemployment claims fell by 29,000 to 343,000 the lowest level in two months and the second lowest level of the year. it suggests hiring is outpacing firing. the four-week average down to 381,000, still an effect from san
president obama lowered the amount from 1.6 to $1.4 trillion. that's not good enough for the republicans holding out for cuts to programs like social security. congressional leaders warn lawmakers not to make holiday travel plans. they will work to the last minute. >>> it's been a busy morning for all things business. >> certainly. he has plenty of new numbers from washington and some new maps from apple and this would be jason brooks with kcbs and cbsmoneywatch.com. good...
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they are holding out for cuts to programs like social security. congressional leaders warn lawmakers not to make holiday travel plans. >> we are going to stay here right up until christmas eve throughout the time and period before the new year because we want to make sure that we resolve this in an acceptable way for the american people. >> meanwhile, fed chairman ben bernanke says the threat of the "fiscal cliff" is creating uncertainty in the economy. >> going home, guys. see you later. >> no comment from new jersey governor chris christie. but he did open up to barbara walters about his weight. he admitted that he is more than a little overweight but he says he has done thinks job well. christie says his size isn't something that would keep him from a run for the white house. it is rumored he is considering a presidential bid in 2016. if he does run, he might go up against secretary of state hillary clinton. also speaking to barbara walters, clinton says she does not plan to run but she did admit she is open to the opportunity. newt gingrich sa
they are holding out for cuts to programs like social security. congressional leaders warn lawmakers not to make holiday travel plans. >> we are going to stay here right up until christmas eve throughout the time and period before the new year because we want to make sure that we resolve this in an acceptable way for the american people. >> meanwhile, fed chairman ben bernanke says the threat of the "fiscal cliff" is creating uncertainty in the economy. >> going...
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republicans saying no and accusing the president of not being specific about spending cuts and entitlement reforms, reform medicare, medicaid and social security. >> so let me ask you a question about this report that we're hearing that the obama administration might be looking at a republican to succeed the defense secretary, leon panetta. who is on that list at this point? >> reporter: yeah, that's right. this is former nebraska senator chuck hagel, a republican. so this is pretty interesting. we know, according to sources knowledgeable of the situation, that president obama and vice president joe biden have met with hagel and he's, of course, is someone who's familiar to the president. yes, he's a republican but some republican mace take issue with this nomination because in 2008 he actually sort of switched sides, if you will, a little bit and endorsed president obama. he also traveled with him to iraq and afghanistan. so they have that relationship as well as the vice president's relationship with hagel in the senate. it's sort of fascinating, though, because bob gates, as you know, w
republicans saying no and accusing the president of not being specific about spending cuts and entitlement reforms, reform medicare, medicaid and social security. >> so let me ask you a question about this report that we're hearing that the obama administration might be looking at a republican to succeed the defense secretary, leon panetta. who is on that list at this point? >> reporter: yeah, that's right. this is former nebraska senator chuck hagel, a republican. so this is pretty...
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no more fema money for my district unless we can get some cuts in medicaid or something else. so republicans have been squishy on disaster relief and fema funding. president obama now has asked the congress for $60 billion in supplemental funding for new jersey and new york particularly. i think connecticut maybe too. for the damage for hurricane sandy. he's doing that at the request of the governors there and republicans in congress are now saying do they really need that much money? was there really that much damage to hurricane sandy? haven't they been watching tv? >> they've been dodging the question about whether they should offset the cost of it. i think when -- i think boehner has so much on his plate right now. that he's going to let this through. he just doesn't want to say it. but you know, obviously this is another thing that conservatives are pushing for. so it's a tough spot. especially because i had forgotten about cantor and that damage when he said back then. he kind of retreated subsequently because he got flak for it. >> bill: here's what i would like to see.
no more fema money for my district unless we can get some cuts in medicaid or something else. so republicans have been squishy on disaster relief and fema funding. president obama now has asked the congress for $60 billion in supplemental funding for new jersey and new york particularly. i think connecticut maybe too. for the damage for hurricane sandy. he's doing that at the request of the governors there and republicans in congress are now saying do they really need that much money? was there...
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Dec 13, 2012
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i think overwhelmingly, the majority of americans support president obama on raising the taxes on the wealthiest. but i thought this was interesting. a majority of republicans think cuts to entitlement programs, should be made now, even if it's tough on families. but democrats think they should be continued to be funded at their current levels, even if it means passing on trillions of dollars of debt to future generations. >> that is the fox news poll just to be clear. >> that is the fox news poll. >> you would think if the issue is the president ran on the idea of raising tax rates for the wealthy, got re-elected on that idea of raising tax rates for the wealthy, the majority of americans seem to support that, even now, in the midst of the negotiations. isn't it time to seal the deal and be done? the white house seems to be taking the stance that until you agree not just to raise tax revenue and tax rates, that is where the president is going to put his feet in the cement on the issue. so that seems to be the gateway to get to what the republicans want which is deeper spending cuts.
i think overwhelmingly, the majority of americans support president obama on raising the taxes on the wealthiest. but i thought this was interesting. a majority of republicans think cuts to entitlement programs, should be made now, even if it's tough on families. but democrats think they should be continued to be funded at their current levels, even if it means passing on trillions of dollars of debt to future generations. >> that is the fox news poll just to be clear. >> that is...
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i think anybody would handle this much better anybody who doesn't have to negotiate with president obama would have a better chance at reaching a deal. i don't think he wants one at the moment. anyone who shows up at the bargaining table with increases instead of cuts is not looking to make a compromise. that being said, i don't know what kind of women you are friends with, but for the most part you put a group of girls together and guys together the girls will be arguing sooner than the guys will. >> thank you very much. i watch real housewives. i watch all of the reality shows. >> please don't use real housewives as an example of normal women. >> use reality shows like "big brother." it is women conniving to take over the house, and then they get the guys to do their bidding. reality shows have taught me everything i need. isn't it sexist to say women are different from men? >> it is fine to be sexist, but i disagree with you, greg. >> you do? >> i believe women are more skilled at consensus building. they are better at negotiation which is why they are bad politicians. they stink at i
i think anybody would handle this much better anybody who doesn't have to negotiate with president obama would have a better chance at reaching a deal. i don't think he wants one at the moment. anyone who shows up at the bargaining table with increases instead of cuts is not looking to make a compromise. that being said, i don't know what kind of women you are friends with, but for the most part you put a group of girls together and guys together the girls will be arguing sooner than the guys...
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Dec 13, 2012
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thought previsly, a new fox poll shows 3 a 3 to 1 margin, voters believe by enacting mostly spending cuts is the best way to deal with the problem. president obama continue its push his ultimatum on higher taxes for wealthy, and republican leaders responding by warning their members to be prepared for christmas in washington because of the stalemate. and joining us now, congressman devon nunez, a member of house aways and means committee. speaker saying they are separated by serious gaps here, what are your thoughts? >> i came on this show two weeks ago, i told you then that president wanted to go cliff diving, that is what he wants to do. he is not serious about getting a deal, if he was so serious, he would not have met with john boehner sunday morning then go out 24 hours later on a campaign stop to michigan railing about some middle class tax hike jarg onljargon he is using. he wants to go off the cliff,. lou: looking at that number. newest fox poll released a couple hours ago, that polls poe 5-- say 57% say that best way to deal with budget is with dedictions, and then, what we're se
thought previsly, a new fox poll shows 3 a 3 to 1 margin, voters believe by enacting mostly spending cuts is the best way to deal with the problem. president obama continue its push his ultimatum on higher taxes for wealthy, and republican leaders responding by warning their members to be prepared for christmas in washington because of the stalemate. and joining us now, congressman devon nunez, a member of house aways and means committee. speaker saying they are separated by serious gaps here,...
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(laughter) today house speaker john boehner struck back with his plan to cut spending by demanding obama come up with boehner's plan to cut spending. (laughter) >> a lot of people know that the president and i met on sunday it was a nice meeting, it was cordial but we're still waiting for the white house to identify what spending cuts the president is willing to make, where are the presidents spending cuts? >> stephen: now critics say the speaker is just asking democrats to put specifics in into the republican proposal but i say that's kind of fun. it makes the budget into a giant mad-lib. for instance, we agree to cut ten be zillion from the program that gives ukuleles to the sticky poor. toilet boom! (cheers and applause) we will have more on this story -- if i have to. (laughter) nation, there's a danger lurking around every corner. that's why i say we must start making all of our buildings round. (laughter) this is the threat down. (cheers and applause) first up, folks, i always keep watch on our international enemies, especially north korea. and their dear leader kim jong-un. in my
(laughter) today house speaker john boehner struck back with his plan to cut spending by demanding obama come up with boehner's plan to cut spending. (laughter) >> a lot of people know that the president and i met on sunday it was a nice meeting, it was cordial but we're still waiting for the white house to identify what spending cuts the president is willing to make, where are the presidents spending cuts? >> stephen: now critics say the speaker is just asking democrats to put...
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obama's tax increase request from $1.6 trillion to $1.4 trillion. uill unrealistic, republicans said. >> the president's call for $1.4 trillion worth of revenue. fhat cannot pass the house or or senate. w reporter: white house officials say republicans will find the president flexibility n future entitlement savings ond how income taxes must go inly if they give in on income tax rates. as much as ideology standing in the way now, is a lack of trust, that and a shared history of cutting deals with each side gives a little and survives politically. >> pelley: negotiations ley: negn. ryjor, thanks very much. we've been working today on that ootingng mall shooting in oregon last night. the police are now telling us us gunman was jacob roberts, 22 years old. 2e killed two shoppers, total strangers and then killed himself. what we don't know is why. whhn blackstone is in clackamas ounty, oregon. oregporter: 10,000 people were when tmall when the shooting began, the rush of christmas s opping became a rush to survive. bob schwab was walking nearby. what di
obama's tax increase request from $1.6 trillion to $1.4 trillion. uill unrealistic, republicans said. >> the president's call for $1.4 trillion worth of revenue. fhat cannot pass the house or or senate. w reporter: white house officials say republicans will find the president flexibility n future entitlement savings ond how income taxes must go inly if they give in on income tax rates. as much as ideology standing in the way now, is a lack of trust, that and a shared history of cutting...
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. >> president obama has been very firm on tax cuts for the reds routedwhich. he did wie election you think he has an edge in these discussions? >> right now this is between the grand bargain which is putting everything on the table, spending cuts revenue of the whole kit and caboodle that fell apart last summer or something that just kicks the can down the road. right now as we inch closer towards christmas kick the can becomes a more attractive option. >> the people around the country kicking the can does not sound like a good option. they want people to get this done and it does not sound like they're taking this seriously in washington. >> the question is whether they tried to get done? they're trying to avoid the social and economic shock to the market. >> they set up this fiscal cliff >> there are actually two fiscal cliff. there is the actual big budget cuts and the debt ceiling increase that comes in february. that is where all of this leverage is coming from. it is an inside baseball game that americans don't care about. all they care about is, is my 4
. >> president obama has been very firm on tax cuts for the reds routedwhich. he did wie election you think he has an edge in these discussions? >> right now this is between the grand bargain which is putting everything on the table, spending cuts revenue of the whole kit and caboodle that fell apart last summer or something that just kicks the can down the road. right now as we inch closer towards christmas kick the can becomes a more attractive option. >> the people around...
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that's according to a news pal. 51% say president obama and congress will cut a deal to prevent automatic tax hikes and spending cuts. john boehner says he still has serious differences with the president after they exchanged new counteroffers apparently and talked on the phone last night. now some house republicans are vowing to work through the holidays to get the deal done. ed henry is live at the white house. that's a motivator i suppose, lose your christmas. >> normally when there is a holiday like that, you're right. this forces them to come to the table. right now they are still pretty far apart. there was a phone call you last night between the president and the speaker. officials on both sides telling me tonight the call was pretty tense because the bottom line is they are still not finding common ground. you listen to the speaker today, jay carney from the white house podium, they're still saying that they're farther apart on both spending cuts and tax increases. take a listen. >> mainly tax hikes. and as planned is it not begin to solve our debt crisis. it actually increases sp
that's according to a news pal. 51% say president obama and congress will cut a deal to prevent automatic tax hikes and spending cuts. john boehner says he still has serious differences with the president after they exchanged new counteroffers apparently and talked on the phone last night. now some house republicans are vowing to work through the holidays to get the deal done. ed henry is live at the white house. that's a motivator i suppose, lose your christmas. >> normally when there is...
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president obama to come up with a plan they can accept for spending cuts and tax revenues to avoid the so called fiscal cliff. time is running out now for both parties to reach a compromise. we have the latest. >> the deadline to avoid the fiscal cliff is december 316789 lawmakers have less time if they want get something together that congress can pass and the president can sign. >> the longer the white house road blocks this discussion, closer our economy gets to the fiscal cliff. >> in an interview, the president was optimistic a deal can be reached. >> i'm confident republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. >> monday night, white house sent speaker boehner on offer including $1.2 trillion in new revenue. yesterday, boehner sent a counter proposal back but looked almost exactly like their original plan. $800 in new revenue continues to be the sticking point. tax rates on the top earners. republicans insist the white house gives them specifics on the cuts the president is willing to make. yesterday spokesman brought
president obama to come up with a plan they can accept for spending cuts and tax revenues to avoid the so called fiscal cliff. time is running out now for both parties to reach a compromise. we have the latest. >> the deadline to avoid the fiscal cliff is december 316789 lawmakers have less time if they want get something together that congress can pass and the president can sign. >> the longer the white house road blocks this discussion, closer our economy gets to the fiscal cliff....
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the sticking point is not the tax rates, i think that real sticking point is cuts, democrats are not willing to put forward enough cuts to get republicans to say what they promised they would do, at least consider the rate going up. lou: this -- president comes with a dial, most recent counter offer, offer, i don't know why we are with him. has $2 of tax hikes for every well 70-cents of -- >> imaginary cuts. i suggestion that john boehner get a huge banner and wrap it around the capitol, "it's the spending, stupid." >> the truth is that tax receipts have risen, revenue for federal government has risen by 26%. 210, 2010, and 2011, there is room to perhaps give there. but, i have to ask you, am saying now. i was going to say, i think we're being gamed in a different way. i am now in school that believes this president doesn't to go over the cliff, also, i believe that republicans are now incentivized to go over the cliff, because they get two-for-one spending cuts and i believe that president is maintaining am bi ambiguity so s don't reaction. >> i believe there is a substantial truth,
the sticking point is not the tax rates, i think that real sticking point is cuts, democrats are not willing to put forward enough cuts to get republicans to say what they promised they would do, at least consider the rate going up. lou: this -- president comes with a dial, most recent counter offer, offer, i don't know why we are with him. has $2 of tax hikes for every well 70-cents of -- >> imaginary cuts. i suggestion that john boehner get a huge banner and wrap it around the capitol,...
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team obama is talking about a growth policy by cutting corporate tax rates and reforming the corporate code. that's right, i said cutting the tax rate. if there's any truth to it, i will optimistically support it. free market capitalism is the best path to prosperity, including corporate business tax reform, which i have wanted for so long, i can't even remember. i'm kudlow. we'll be back soon. >>> welcome back to the "kudlow report." facebook is paying interns the astonishing sums of $5,600 a month. that's about $67,000 a year and $25,000 more than the average u.s. salary. well, tech companies pay well because they want to recruit top engineering and math talent. the corporate taxes may be part of the fiscal cliff talks. here is dan mitchell, senior fellow at the cato institute. google stashed $10 million in bermuda, hp has almost all of its cash offshore and apple said to shareholders, two-thirds of its $121 billion of cash is held outside the united states. now why is that? is it just because they hate america? >> two things to understand. number one, everything they do is completel
team obama is talking about a growth policy by cutting corporate tax rates and reforming the corporate code. that's right, i said cutting the tax rate. if there's any truth to it, i will optimistically support it. free market capitalism is the best path to prosperity, including corporate business tax reform, which i have wanted for so long, i can't even remember. i'm kudlow. we'll be back soon. >>> welcome back to the "kudlow report." facebook is paying interns the...
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but you have to also have spenning cuts. that is where obama is running out the clock. as nina indicated prominent democrats are saying we won't move on major issues on any entitlement reform. you get the president offered about half a trillion in cuts, over ten years. this is a government that is going to spen over the decade about $45 trillion. it has $16 trillion in debt an offering half a trillion in cuts. not serious. and unless obama moves on that nothing will happen. we are going over niagara falls. >> chris: i won't be here tomorrow. bret thankfully will be back but my guess is he will ask about the tortoise race and what is ahead by a neck. >> chris: neck and neck right now. >> chris: that is it for panel. but stay tuned for look at unusual christmas doings at the white house. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like lerty and rock 'n' roll. to free markets, free enterprise, and free refills. it put
but you have to also have spenning cuts. that is where obama is running out the clock. as nina indicated prominent democrats are saying we won't move on major issues on any entitlement reform. you get the president offered about half a trillion in cuts, over ten years. this is a government that is going to spen over the decade about $45 trillion. it has $16 trillion in debt an offering half a trillion in cuts. not serious. and unless obama moves on that nothing will happen. we are going over...
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president obama, house speaker john boehner held another phone call last night. here is speaker boehner on that. >> there were some offers that were exchanged back and forth yesterday. and the president and i had a pretty frank conversation about just how far apart we are. >> as we mentioned just last hour, take a look at the graph, these two sides have moved closer on taxes over the last couple of weeks. speaker boehner offered up $800 billion in new tax revenues after insisting on none. the president just this week, he's come down a little bit to $1.4 trillion but still no dice. no deal. cnn's sandra endo is standing by at reagan national airport, across the potomac from washington. so, sandra, if we hit this fiscal cliff, all the spending cuts kick in, what effect will that have on air travel? >> reporter: the big unknown is still how it will affect the everyday traveler. and that is certainly something a lot of people here are wanting to figure out. as for the air traffic controllers union, they released a statement this afternoon saying that it would be a ma
president obama, house speaker john boehner held another phone call last night. here is speaker boehner on that. >> there were some offers that were exchanged back and forth yesterday. and the president and i had a pretty frank conversation about just how far apart we are. >> as we mentioned just last hour, take a look at the graph, these two sides have moved closer on taxes over the last couple of weeks. speaker boehner offered up $800 billion in new tax revenues after insisting on...
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. >> president obama tells barbara walters his bottom line. >> i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for -- >>> terror at the mall, a masked gunman opens fire outside portland, oregon, killing two people in a crowd of holiday shoppers before turning the gun on himself. >> i heard two loud booms. i thought that they were something falling in the mall. i looked again, i glanced to my left, and i seen, like, gunshots shot everywhere, shooting everywhere, people running for their lives. >> i just bolted. there were little kids, families, moms, we told everybody get inside the fitting rooms. >>> north korea fires its first successful long-range missile test. even china is alarmed. >>> jenna bush hager announced on the "today" show they are expecting. george and laura bush call in their congratulations. >> president, mrs. bush, what do you want the grandchild to call you? >> sir. [ laughter ] >> we want to call him poncho. >> jimmy baker's grandkids call him happy. i kind of like the ring of that. >> it means boss. >> pop
. >> president obama tells barbara walters his bottom line. >> i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for -- >>> terror at the mall, a masked gunman opens fire outside portland, oregon, killing two people in a crowd of holiday shoppers before turning the gun on himself. >> i heard two loud booms. i thought that they were something falling in the mall. i looked again, i glanced to my left, and i seen,...
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agreed to extend bush tax cuts for all. comers not strong show the argument to raise taxes now it is not only better than it was two years ago. but does the government need to tax and borrow in order to spend or is the government actually less constrained in its spending than believed and do budget deficits matter much less right now than we may think well stephanie helton chair of the economics department at university of missouri kansas city and a subscriber of modern monetary theory is here to talk about just that plus the senate is reportedly looking at extending a two thousand and eight at the i.c. financial crisis measure that guarantees one hundred percent of all checking account bank deposits now the c b o estimates the f.d.a. as the does not collect enough fees to offset the risk exists as another subsidy for too big to fail banks we have a reality check plus a talian technocrat leader mario monti versus bunga bunga three time former prime minister silvio berlusconi their latest debate centers around a different ap
agreed to extend bush tax cuts for all. comers not strong show the argument to raise taxes now it is not only better than it was two years ago. but does the government need to tax and borrow in order to spend or is the government actually less constrained in its spending than believed and do budget deficits matter much less right now than we may think well stephanie helton chair of the economics department at university of missouri kansas city and a subscriber of modern monetary theory is here...
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so if there's no deal and the tax hikes and spending cuts take effect, we feel the impact. christine romans sat down with this panel for a report on the bottom line. here's part of the conversation she had with a working mom, small business owner and a woman looking for work. >> i have a household to run. still have rent and bills to pay, and i need help. i need help. >> three kids? >> yeah. >> how old are your kids, 23, 18, and 11. >> what do you tell them when they see the economy in front of them and hear all this fighting in washington about the fiscal cliff. you've been looking for a job for more than six months now. are you more optimistic or less than things will turn around next year? >> i believe it's going to turn around. it will probably take a little time, but i think it will. >> you need the government to help now until that happens? >> yes, i definitely do. >> you just had a baby. congratulations. >> thank you. >> are you concerned about your kid's future in all of this? >> i am. i mean, my biggest concern is that i leave my son with more burdens. i want him t
so if there's no deal and the tax hikes and spending cuts take effect, we feel the impact. christine romans sat down with this panel for a report on the bottom line. here's part of the conversation she had with a working mom, small business owner and a woman looking for work. >> i have a household to run. still have rent and bills to pay, and i need help. i need help. >> three kids? >> yeah. >> how old are your kids, 23, 18, and 11. >> what do you tell them when...
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it would extend for one full year all of the bush-era tax cuts on middle-class families. now, that's sitting in front of the house of representatives. president obama has said, if they pick it up and pass it tomorrow, i'll put my pen to tot immediately. that's one thing that could be done right now. but the house republicans will not take it up. i say, if they were to take it up today -- they are not doing anything over there anyway -- pick it up today, pass it, the president signings it, i sigh you're going to see a -- i think you're going to see middle-class families do a little more christmas shopping and that'll help spur our economy. i would point out that some of my friends on the other side of the aisle here and in the house have been talking about do that very thing. so there are some republicans that recognize that this would be one of the best things we could do; that is, pass the middle-class tax cut that we passed here in july. nonetheless, i keep hearing that what we really need to do to drove the so-called fiscal cliff -- to address the so-called fiscal clif
it would extend for one full year all of the bush-era tax cuts on middle-class families. now, that's sitting in front of the house of representatives. president obama has said, if they pick it up and pass it tomorrow, i'll put my pen to tot immediately. that's one thing that could be done right now. but the house republicans will not take it up. i say, if they were to take it up today -- they are not doing anything over there anyway -- pick it up today, pass it, the president signings it, i...
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we have 20 days left to avoid the automatic tax hikes and spending cuts. >> reporter: good morning. there's never been more activity than we've seen in the last 24 hours but activity does not necessarily mean the country's averti any closer to averting the fiscal cliff. president obama telephoned house speaker john boehner tuesday afternoon.rnoo sources describe the exchange as tense. at issue a new republican budget budg proposal, one that came after mr. obama sent an offer to mr. boehner tuesday. before boehner took to the house floor to criticize the president. >> the longer the white house ze slow walks this process the closer our economy gets to the fiscal cliff. >> reporter: mr. obama's new proposal lowered his request for tax revenue from $1.6 trillion in ten years to $1.4 trillion.trillion on tuesday the white house threw corporate tax reform into the mix, adding it to the already agreed upon push next year for reform of individual tax rates.dismisse boehner's described it as unrealistic and said the tax revenue was "a red herring." the top senate democrat doubted a fiscal c
we have 20 days left to avoid the automatic tax hikes and spending cuts. >> reporter: good morning. there's never been more activity than we've seen in the last 24 hours but activity does not necessarily mean the country's averti any closer to averting the fiscal cliff. president obama telephoned house speaker john boehner tuesday afternoon.rnoo sources describe the exchange as tense. at issue a new republican budget budg proposal, one that came after mr. obama sent an offer to mr....
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let them take spending cuts and be fiscally responsible. the pros and cons, i have seen people that do not pay in and get $1,000. but it does not matter how much we pay or take away, but there is still spending. i do not care what your income is, i am a real-estate agent. that is how i make a living. it is very important for a young couple, to put them in a home. to help them throughout the years. far as i'm concerned, president obama had unlimited spending dollars. host: how much does the mortgage deduction help you and your business? caller: it is extremely important. host: does it help your bottom line? do you think you do more sales? caller: yes, it does. it makes more people eligible. these kids, these couples, they work very hard to say about their money, their down payment. yes, it is very important. host: this is what vivian says on twitter -- host: anthony responds by saying -- host: this news from "the wall street journal." "unions deliver a blow." with a look at what is happening in michigan, thousands of union supporters turned
let them take spending cuts and be fiscally responsible. the pros and cons, i have seen people that do not pay in and get $1,000. but it does not matter how much we pay or take away, but there is still spending. i do not care what your income is, i am a real-estate agent. that is how i make a living. it is very important for a young couple, to put them in a home. to help them throughout the years. far as i'm concerned, president obama had unlimited spending dollars. host: how much does the...
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president obama and congressional republicans remain split on raising taxes on upper middle-class americans. susan mcginnis is in washington with the latest now. susan, good morning to you. >> hi. good morning, terrell. both sides are talking publicly about what they want. the gop pushing back against that. but privately negotiations do continue. in an exclusive interview airing on abc's "20/20" this friday night, president obama says he's optimistic a deal will be reached, and he's confident the gop won't hold the middle-class taxes hostage to protect higher income americans. >> taxes are going to go up one way or the other, and think the key is to make sure the taxes go up on higher individuals like you and me, barbara. we can afford it. >> reporter: earlier on tuesday the president and house speaker john boehner shared a phone call to discuss the latest republican proposal. it comes after the obama administration lowered its request for new tax revenue from $1.6 trillion in over ten years to 1.4 trillion. but before the call boehner was critical of the president. >> right now the america
president obama and congressional republicans remain split on raising taxes on upper middle-class americans. susan mcginnis is in washington with the latest now. susan, good morning to you. >> hi. good morning, terrell. both sides are talking publicly about what they want. the gop pushing back against that. but privately negotiations do continue. in an exclusive interview airing on abc's "20/20" this friday night, president obama says he's optimistic a deal will be reached, and...
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. >> steve: it is tax cuts for the middle class if president doesn't do something. peter doocy is life in washington. >> the speaker of the house john boehner thinks that president obama moved the goal post again yesterday. even though the president is asking for 1.4 trillion in new taxes over the decade which is 200 billion less than the initial offer, the republicans are not moving. their counter offer for 800 billion over a decade same as before and republican aids are telling us there is's big gulf between the sides on detailings. republicans don't think that the president is specific enough about the spending cuts he's willing to pass. >> the president doesn't agree with our approach. he's got an obligation to put forward a plan to pass both chambers of congress. right now the american people have to be scratching their head and wondering when the president is going to get serious. >> officials privately expresss would increased optimism about a deal with one senior audiovisor saying that democrats and republicans moved 75 percent of the way toward a deal and i
. >> steve: it is tax cuts for the middle class if president doesn't do something. peter doocy is life in washington. >> the speaker of the house john boehner thinks that president obama moved the goal post again yesterday. even though the president is asking for 1.4 trillion in new taxes over the decade which is 200 billion less than the initial offer, the republicans are not moving. their counter offer for 800 billion over a decade same as before and republican aids are telling us...
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they wanted the obama plan. >> his respect and popularity would go through the roof. >> president jim hoffa next. >> this is "the bill press show." [ music ] every day presents another exciting issue. from financial regulation, iran getting a nuclear bomb, civil war in syria, fraud on wall street, destruction of medicare and medicaid. there are real issues here. having been a governor, i know that trade-offs are tough. things everyday exploding around the world that leave no shortage for exciting conversations. i want our viewer to understand why things have happened. at the end of the show, you know what has happened, why its happened and more importantly, what's going to happen tomorrow. >> heard around the country and seen on current tv. >> 33 minutes after the hour now. this is the full court press, coming to you life from our nation's capitol, brought to you today by the international brotherhood of teamsters under president jim hoffa. we live better because their good work building america. you can find out more about their good work at the website www.teamster.org and if you th
they wanted the obama plan. >> his respect and popularity would go through the roof. >> president jim hoffa next. >> this is "the bill press show." [ music ] every day presents another exciting issue. from financial regulation, iran getting a nuclear bomb, civil war in syria, fraud on wall street, destruction of medicare and medicaid. there are real issues here. having been a governor, i know that trade-offs are tough. things everyday exploding around the world that...
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now defense cuts. more and more republicans are saying that they're willing to talk about it. >> good. >> saying it junt cuts their credibility on other spending issues. >> good. >> it's the pentagon. >> there is so much waste in the pentagon. it's one of the few bureaucracies you can't audit. it is impossible. whether you're talking to peter peterson, dave walker, they tell you, you can't audit the pentagon. it is impossible. >> and yet there are some republicans you say who are willing to go out on a ledge and say it's time to look at this. and what are the costs of doing that politically? >> well, they are, and part of it is the changing times. it's not the cold war anymore. it's these younger members who are coming up. also to be consistent, you have members saying why are we opposing the sequester? why are we panicked that these spending cuts might take place? this is what we want. so that's another fight that's in the conference. are they going to be totally consistent on spending, or are they go
now defense cuts. more and more republicans are saying that they're willing to talk about it. >> good. >> saying it junt cuts their credibility on other spending issues. >> good. >> it's the pentagon. >> there is so much waste in the pentagon. it's one of the few bureaucracies you can't audit. it is impossible. whether you're talking to peter peterson, dave walker, they tell you, you can't audit the pentagon. it is impossible. >> and yet there are some...
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where are the president's spending cuts? the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff. >> president obama responded, showing republicans where they could find the details. >> it's not a mystery. we've seen this before. this is the document that contains the specific spending cuts. the speaker of the house sent us a proposal that was two pages long that included one sentence on revenue. the proposal here includes, i believe from pages 17 to 45, details on proposed spending cuts by the president, pages 17 to 45. i recommend them to you. >> so, at this point, a deal before christmas looking unlikely. as senate majority leader harry reid admitted yesterday. but in an interview with barbara walters, president obama predicted that republicans would eventually give in on taxes. >> the most important thing we can do is make sure the middle class taxes do not go up on january 1st, and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protec
where are the president's spending cuts? the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff. >> president obama responded, showing republicans where they could find the details. >> it's not a mystery. we've seen this before. this is the document that contains the specific spending cuts. the speaker of the house sent us a proposal that was two pages long that included one sentence on revenue. the proposal here includes, i believe from...
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obama has cut his demand for new revenue from tax hikes but continues to insist on higher taxes for the wealthy. boehner's counter offer was almost what republicans have been offering all along, $800 billion in tax revenues, none of them generated by higher tax rates. that stalemate is causing irritation for the senate female members. starting in january, there will be 20 of them, a new record. and they told diane sawyer if they were in charge, well, a deal would already be done. >> what i find is with all due deference to our male colleagues that women's styles tend to be more collaborative. >> i think by nature, we are less confrontational and more collaborative. and having us in the room, and i think all of us, not only do we want to work in a bipartisan way, we do it. >> certainly a turning point now for the senate in the chamber next year. it will be the first-ever females from the states of massachusetts and nebraska, as well as the first asian-american woman and the first openly gay senator as well. >> let's hear it for the girls. >> let's hear it for all that diversity. >> for t
obama has cut his demand for new revenue from tax hikes but continues to insist on higher taxes for the wealthy. boehner's counter offer was almost what republicans have been offering all along, $800 billion in tax revenues, none of them generated by higher tax rates. that stalemate is causing irritation for the senate female members. starting in january, there will be 20 of them, a new record. and they told diane sawyer if they were in charge, well, a deal would already be done. >> what...
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watch. >> where are the president's spending cuts? the longer the white house slow walks this process the closer the economy gets to the fiscal cliff. >> where are the revenues? where are the revenues? regardless of the cuts or changes of entitlements more is demanded in terms of what seniors would have to pay in to a medicare and what age that would happen. while the republicans refuse to touch one hair on the head of a the wealthiest people in our country. >> when it comes to taxes the top senate republicans said it was time for his party to give in and move on. >> what the president is trying to the achieve on the top two tax rates, you know, he can get by doing nothing. the law is certainly stacked in his favor. >> sharing the view a tax increase is all but inevitable. senator coburn is joining us now. you have said the tax rates are going up on the wealthiest 2% of americans. it sounds like more republicans are coming around to your way of thinking. i understand you have been talking to republican colleagues about supporting this
watch. >> where are the president's spending cuts? the longer the white house slow walks this process the closer the economy gets to the fiscal cliff. >> where are the revenues? where are the revenues? regardless of the cuts or changes of entitlements more is demanded in terms of what seniors would have to pay in to a medicare and what age that would happen. while the republicans refuse to touch one hair on the head of a the wealthiest people in our country. >> when it comes...
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unlike them, obama is not willing to destroy the global economy. and so they figure there is no real need to cut a deal now, because if that deal, particularly if they deal includes concessions like taxes, just wait a couple of months, take the debt ceiling hostage and make everybody believe you'll shoot. this is making boehner weaker. it gives haas republicans an excuse to ignore the cuts the deal he makes. they say oh, we'll just wait it out. the concern that boehner will cut a deal that he can't actually deliver, or at the last minute he'll back off a deal because he won't have the votes. the white house, by the way, they don't think the debt ceiling is republican leverage. when you talk to them, they are all steel right now on that subject. their position is simple, and they deliver it in the tone of voice bruce willis reserves for talking to terrorists. they are not negotiating. not on that. if republicans go over the cliff and try to open up talks for raising the debt ceiling, the white house says they will not hold a meeting. they will not r
unlike them, obama is not willing to destroy the global economy. and so they figure there is no real need to cut a deal now, because if that deal, particularly if they deal includes concessions like taxes, just wait a couple of months, take the debt ceiling hostage and make everybody believe you'll shoot. this is making boehner weaker. it gives haas republicans an excuse to ignore the cuts the deal he makes. they say oh, we'll just wait it out. the concern that boehner will cut a deal that he...
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boehner is demanding more details on spending cuts. the administration has made expensive proposals to reduce spending, but the republicans haven't offered specifics on revenue hikes. >>> today the federal reserve wraps up its two-day meeting with a decision at 12:30 eastern followed by updated economic projections from fomc members at 2:00 p.m. and ben bernanke's press briefing at quarter past. the fed is expected to announce a new round of bond purchases as its latest program, operation twist, is set to expire at the end of the month. cnbc will begin at 12:00 p.m. eastern. >>> joining us is stewart richardson, partner at rpmg. the press conference -- we'll hear a fresh round of stimulus from the fed. how significant would that be? >> in my mind it's not that significant. i think as optics, people think this is another addition to the stimulus. the fact is that the fed for months and months and months when they go out to purchase longer term treasuries, they're trying to reduce the supply of those in the market and effectively swap sh
boehner is demanding more details on spending cuts. the administration has made expensive proposals to reduce spending, but the republicans haven't offered specifics on revenue hikes. >>> today the federal reserve wraps up its two-day meeting with a decision at 12:30 eastern followed by updated economic projections from fomc members at 2:00 p.m. and ben bernanke's press briefing at quarter past. the fed is expected to announce a new round of bond purchases as its latest program,...
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there's a lot of trust being put forward by lawmakers supporting president obama. are you confident that there's not going to be a bad deal out there for liberals? >> well, what i'm worried about is that there will be something between raising the age of medicare eligibility or means testing, further means testing medicare. you know, ed, we means test medicare right now. that's a really important point that gets lost. people who make over $85,000 a year pay more already. it's like, you know, arsenic or cyanide, which do you prefer? i don't think we should agree to either one. >> well, cantor and ryan are part of boehner's strategy team. what does that mean? >> i don't know what the heck that means. it probably means we won't get an agreement. boehner was again talking about the democrats really want business -- small business tax increases and the same old line that he's being fed. and he hasn't put his ideas on the table in a very clear way. >> is boehner about keeping his job? is he all about making sure that he can do a deal and still be speaker? >> that's what
there's a lot of trust being put forward by lawmakers supporting president obama. are you confident that there's not going to be a bad deal out there for liberals? >> well, what i'm worried about is that there will be something between raising the age of medicare eligibility or means testing, further means testing medicare. you know, ed, we means test medicare right now. that's a really important point that gets lost. people who make over $85,000 a year pay more already. it's like, you...